Published: 2024-02-16T15:12:25.000Z
U.S. February Michigan CSI - Picture stabilizing
Senior Economist , North America
-
After two straight strong gains February’s preliminary Michigan CSI appears to be stabilizing, up only marginally to 79.6 from 79.0, in line with expectations though still the highest since July 2021.
The details show current conditions at 81.5 from 81.9 marginally lower while expectations at 78.4 from 77.1 continue to ruse. The dip in current conditions does follow some recent softer January data, notably retail sales, but the dip is too marginal to make much of.
The inflation expectations picture appears to be stabilizing with the 5-10 year view unchanged at 2.9% and the 1-year view up to 3.0% from 2.9%. The 5-10 year view has been stable fir a long time. The 1-year view is now consistent with the longer term view.
